Greece-Egypt partnership focuses on CCUS collaboration

The Greek Minister of Environment and Energy, Thodoros Skylakakis, and the Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, signed a memorandum of understanding to enhance cooperation between the two countries in the field of carbon capture, utilisation, and storage (CCUS).

The partnership will facilitate the exchange of know-how and the development of CCS/CCU facilities. The two countries are establishing a joint committee to oversee cooperation, while the Hellenic Hydrocarbon and Energy Resources Management Company (HHREMC) coordinates the practical implementation.

Minister Skylakakis also met with Clay Neff, President of Chevron’s International Exploration and Production Division, while the Deputy Minister of Environment and Energy, Alexandra Sdoukou held talks with John Ardill, Vice President of ExxonMobil, regarding the companies’ interest in extracting hydrocarbons from the sea.

In addition, a ministerial roundtable discussion was held on energy security and industrial competitiveness, during which Skylakakis spoke about the electric connection Greece is building with Cyprus, as well as the procedures aimed at a green electricity connection with Egypt, primarily concerning the transport of wind energy from the country. “When the dust settles from the tensions, what remains are the agreements made and the plans implemented,” said the Minister.

He also highlighted that Greece currently has more than 14 gigawatts (GW) of renewable energy capacity (mainly wind and photovoltaic energy, mostly from small investors), but this is expected to exceed 20 gigawatts (GW) in the next three-four years, primarily due to photovoltaic investments. As he stated, Greece is self-sufficient in electricity and, for the first time in two decades, became a net exporter to some extent in 2024.

Meanwhile, Sdoukou, in a conference discussion, emphasized the need to create the right conditions for the development of innovative clean energy solutions, such as simplifying the regulatory framework, facilitating access to financing, and strengthening international collaborations.